The Federal Government has created a N25 billion Youth Fund to address the #EndSARS protests and other related youth restiveness in Nigeria.
This was disclosed by the Minister of Finance, Zainab Ahmed, on Saturday, at a stakeholder meeting with the Deputy Governor of Kaduna State, Dr. Hadiza Balarabe, in Kaduna, according to Punch.
The meeting is in compliance with President Muhammadu Buhari’s directive to ministers and governors to dialogue with stakeholders following the #EndSARS protests.
The minister explained that the fund would be increased to N75 billion within a period of three years.
Objective of the fund
According to her, the aim was to support youths to actualise their innovative and entrepreneurial ideas in growing their businesses and becoming self-reliant.
— Punch Newspapers (@MobilePunch) October 25, 2020
What you need to know: On October 15, 2020, Nairametrics reported that the Federal Ministry of Youth and Sports Development, flagged off the application for a N75 billion Nigeria Youth Investment Fund (NYIF) recently approved by the Federal Government.
During the launch of the application, the Minister of Youth and Sports Development, Sunday Dare, said that the NYIF underscored the importance placed on youths by the current administration.
The Minister said that the fund, which is an initiative of the Federal Ministry of Youth and Sports Development and funded by the Central Bank of Nigeria (CBN), would be spread over 3 years to cater to youth-owned businesses and investment needs.